Bloomfield NJ Home Prices and the Market, Explained for 2026 Buyers
Introduction
Bloomfield NJ home prices center on a $667,945 median sale price over the three months ending August 2026, up 6.9 percent from a year earlier and roughly half the median in neighboring Montclair or Glen Ridge. The catch is that list prices understate what you will pay: homes are closing at about 110 percent of asking on average, and well-located houses in Brookdale and Oak View can go much higher.
This guide is for buyers coming from Jersey City, Brooklyn and Queens who have found Glen Ridge and Montclair out of reach and are now losing bids in Bloomfield. It explains what homes actually sell for, why list prices mislead, what your tax bill will really be, and where condos, two-families and first-time buyer programs fit.
Quick Facts
The typical home sells for about $668,000. That is Redfin's median for the 07003 zip code over the three months ending August 2026, at $427 a square foot, and 82.5 percent of recent sales closed above asking.
Asking price is a starting bid. A Brookdale colonial at 1169 Broad Street listed at $569,000 in January 2026 sold for $752,600 two months later, about 32 percent over asking.
Bloomfield costs about half as much as its neighbors. Montclair's median was $1,299,140 and Glen Ridge's $1,343,907 over similar windows.
Inventory is thin. Bloomfield had about 1.5 months of supply in October 2026.
First-time buyers can get help. Essex County buyers who qualify for NJHMFA financing can receive up to $15,000 in down payment assistance, forgiven after five years in the home.
In This Guide
What Are the Average Home Prices in Bloomfield, NJ?
How the Bloomfield NJ Real Estate Market Looks Right Now
Why Bloomfield NJ Home Prices Run Above the List Price
Is Bloomfield NJ Cheaper Than Montclair or Glen Ridge?
What Your Bloomfield Tax Bill Will Really Be
Brookdale, Oak View and the Rest of Town
Bloomfield NJ Condos and Liberty Place
Bloomfield NJ Rent vs Buy
Is a Two-Family House in Bloomfield NJ a Good First Home?
Getting to Manhattan and Checking Flood Risk
Frequently Asked Questions
What Are the Average Home Prices in Bloomfield, NJ?
The average home price in Bloomfield, NJ is in the mid $600,000s. Redfin puts the median at $667,945 for the three months ending August 2026, and the median price per square foot rose 12.9 percent over the year to $427.
The property-analytics site Resideline tracked 222 closed sales in the six months to October 2026 and found a median of $650,000, with the middle half of sales between $520,000 and $800,000. That band is roughly what a typical three- or four-bedroom colonial or Cape costs once bidding is done. The stock is old, with a median year built of 1932 and an average single-family home of about 1,470 square feet, so expect smaller rooms and older systems than the price might suggest.
How the Bloomfield NJ Real Estate Market Looks Right Now
The Bloomfield NJ real estate market is fast and short on supply, and most well-priced homes draw multiple offers.
Speed and bidding
Homes in 07003 sold in a median of 22 days over the summer, down from 63 days a year earlier, and closed at 110 percent of list on average. Redfin counted 117 sales in August 2026 alone, and Resideline's closings show a median of 16 days from listing to contract.
Inventory and rates
Homes.com counted 476 sales over the past year and about 1.5 months of supply as of October 2026, so buyers rarely have many choices at once. Borrowing also got more expensive: Freddie Mac's 30-year fixed average reached 7.28 percent on October 1, 2026, up from 6.34 percent a year earlier. Higher rates have not cooled bidding so far, but they shrink what the same monthly budget can buy.
Why Bloomfield NJ Home Prices Run Above the List Price
Bloomfield NJ home prices usually land well above the asking price because many sellers list low on purpose to draw a crowd, then let buyers bid the house up to its real value.
The 1169 Broad Street example
This four-bedroom, 1950 colonial in Brookdale, a short walk from Brookdale Park, listed at $569,000 in January 2026, went under contract in early February and closed at $752,600 in March. The final price was not out of line, though: the comparable sales Redfin lists include four-bedrooms on Morley Lane and Andover Place at $820,000 each in August 2026 and a three-bedroom on Bellevue Avenue at $760,000 in June. The list price was the outlier, not the sale.
What buyers are giving up to win
Across 07003, 82.5 percent of recent sales closed above asking and the average sale ran about 110 percent of list, and winning offers in Brookdale and Oak View often run well past that average. One middle-ground tactic is offering to absorb the first $10,000 of inspection repairs rather than waiving the inspection itself. That keeps your right to walk away from a major problem. Waiving inspection outright on a house built around 1932 is a much bigger gamble.
Setting your number
Price the house from recent closed sales on similar blocks, not from the asking price, and decide your ceiling before offers are due. If you bid well over list, keep cash aside for a possible appraisal gap, because lenders lend only against the appraised value. Homes that need work or are priced too high do sit, so a house that has lingered a few weeks may be your best chance at a calmer negotiation.
Is Bloomfield NJ Cheaper Than Montclair or Glen Ridge?
Yes, Bloomfield is roughly half the price of Montclair or Glen Ridge on a typical sale, a gap of about $630,000 at the median in Bloomfield vs Montclair home prices.
Montclair sold at a $1,299,140 median and $612 a square foot over the three months ending August 2026, closing at 121.3 percent of list. Glen Ridge's 07028 zip code sold at $1,343,907 and $740 a square foot over the three months ending July 2026, at 130.2 percent of list. Housing stock explains much of the gap: Montclair and Glen Ridge carry larger period homes on larger lots, and both towns put far fewer homes on the market at any given time. Bloomfield students are served by the Bloomfield School District; for any district, enrollment and performance data are published in the New Jersey School Performance Reports.
What Your Bloomfield Tax Bill Will Really Be
Your Bloomfield tax bill depends on your home's assessment, not its price, so recent buyers often pay less than the published effective rate suggests, at least for now.
The rate versus your bill
New Jersey's 2025 tax table lists Bloomfield's general rate at 3.489 percent and its effective rate, measured against market value, at 2.391 percent. Your bill is the general rate times your assessment. At 1169 Broad Street, an assessment of $370,800 produced a 2025 bill of $12,937, about 1.7 percent of the $752,600 sale price. Using the effective rate instead would suggest about $18,000. Ask for the actual bill on every house you consider.
Why bills are rising
The township approved a 2026 budget with a 12.1 percent municipal tax levy increase, adding about $589 a year to the municipal share of the bill for a home assessed at the average of $355,263. The school levy rose 4.97 percent on top of that. Assessments that sit far below market value can also be reset in a future town-wide revaluation, so budget with some room.
Brookdale, Oak View and the Rest of Town
Bloomfield is only about 5.3 square miles, but prices shift noticeably from north to south.
Brookdale
Brookdale, in the north end, borders Brookdale Park, a 121-acre county park with 78 acres on the Bloomfield side. It is mostly colonials and Capes on tree-lined streets, many within walking distance of Brookdale Elementary. The blocks closest to the park are among the most competitive in town: the 1169 Broad Street result and the $820,000 Morley Lane and Andover Place sales in August 2026 all sit in this pocket. It is also home to Holsten's, the ice cream shop from the final scene of The Sopranos.
Oak View
Oak View, sometimes written Oakview, is the area served by Oak View Elementary. Homes here range from older colonials to newer cul-de-sac houses, and renovated four-bedrooms were listed near $929,000 in October 2026 (Homes.com listings).
Bloomfield Center and the south end
The center of town around the Bloomfield Green and the train station has most of the newer condos and rentals. The south end near Watsessing Park and the Watsessing Avenue station has more two- and three-family homes. For a wider look, see our Bloomfield community guide.
Bloomfield NJ Condos and Liberty Place
Bloomfield NJ condos are the lowest-cost way into town, with townhouse sales centered near $350,000 and one-bedroom units near $275,000 (Homes.com, October 2026).
Liberty Place at 660 Bloomfield Avenue
Liberty Place is an elevator condo building on Bloomfield Avenue where the town meets Montclair and Glen Ridge. Unit 303, a two-bedroom, two-bath condo, sold for $593,000 in July 2025 against a $563,000 list price, with a $490 monthly HOA. The building has marketed a five-year tax abatement to buyers, so confirm the remaining term on any unit and budget for the full tax bill once it ends.
Similar properties near Liberty Place
Recent activity shows the range. A two-bedroom, two-and-a-half-bath townhouse at 9 Farrand Street, a block from the train, was listed at $699,000 in October 2026, while a two-bedroom at 2 Bland Court sold for $369,000 and a one-bedroom at 348 Hoover Avenue for $280,000 in September 2026, according to Redfin. Age, parking, elevators and what the HOA covers explain most of the gap.
Bloomfield NJ Rent vs Buy
For Bloomfield NJ rent vs buy, renting is cheaper month to month right now, and buying makes sense mainly if you plan to stay five years or more. Homes.com shows a median single-family rent of $3,450 and a median two-bedroom condo rent of $2,800 as of October 2026.
Buying the median $667,945 home with 10 percent down at 7.28 percent costs about $4,113 a month in principal and interest, plus roughly $1,331 a month in tax at the effective rate, before insurance and mortgage insurance. That is about $5,444 against $3,450 in rent. The case for buying rests on building equity in a town where prices rose 6.9 percent last year.
Is a Two-Family House in Bloomfield NJ a Good First Home?
A two-family can be a smart first home in Bloomfield if you are ready to be a landlord, because rent from the second unit offsets a large share of the mortgage.
What two-families cost
Homes.com listed 35 multi-family properties in Bloomfield in October 2026. Two-families ranged from 12 Maolis Avenue at $549,900, which needs repairs, to 31 Barbara Street at $875,000 with two three-bedroom units. A renovated all-brick two-family at 58 Floyd Avenue, with separate gas and electric meters, was listed at $750,888.
How the numbers can work
Fannie Mae now allows as little as 5 percent down on owner-occupied two- to four-unit homes. At 58 Floyd Avenue's price with 5 percent down at 7.28 percent, principal and interest run about $4,881 a month, plus about $1,496 in estimated tax. A second unit renting near $2,700 to $2,800 would cover roughly 40 percent of that. Confirm the home is a legal two-family, review leases, and remember a tenant-occupied unit limits when you can move in.
Help for Bloomfield NJ first-time home buyers
NJHMFA's program pairs a 30-year first mortgage with up to $15,000 in Essex County, forgiven after five years of living in the home, and it covers owner-occupied two- to four-family homes. Income limits in Essex are $138,400 for one or two people and $159,160 for three or more. Those are the program's standard limits; higher limits apply in state-designated Urban Target Areas, a list that does not include Bloomfield. The assistance cannot be used to cover an appraisal shortfall.
Getting to Manhattan and Checking Flood Risk
Bloomfield has two NJ Transit stations on the Montclair-Boonton Line. Direct Midtown Direct trains from Bloomfield station reach New York Penn Station in about 35 minutes, and some trains on the line run to Hoboken instead, so check NJ Transit's Montclair-Boonton Line schedule for direct departures. The 102 bus runs to Port Authority on weekdays, and the south end has the Grove Street stop on the Newark Light Rail. Flood risk matters too: Redfin's First Street data rates 19 percent of 07003 properties at risk of severe flooding over 30 years, compared with 4 percent in Glen Ridge, so check the flood zone before you bid.
Frequently Asked Questions
What are the average prices for homes in Bloomfield, NJ?
The median home price in Bloomfield, NJ was about $668,000 over the three months ending August 2026, up 6.9 percent from a year earlier. Most sales fall between roughly $520,000 and $800,000, and homes near Brookdale Park often sell at the top of that range or above.
How does the real estate market look in Bloomfield, NJ right now?
Bloomfield is a fast seller's market with about 1.5 months of supply. Homes sell in about three weeks and close near 110 percent of list on average, and homes priced below recent sales often set off bidding wars.
Is Bloomfield NJ cheaper than Montclair or Glen Ridge?
Yes, Bloomfield is roughly half the price of Montclair and Glen Ridge at the median. Bloomfield's median was about $668,000 against about $1.3 million in both neighbors, and its price per square foot is about 30 percent below Montclair's.
What are the average rental prices for houses in Bloomfield, NJ?
The median single-family rent in Bloomfield, NJ was about $3,450 a month in October 2026. Two-bedroom condos rented for a median of about $2,800, and four-bedroom houses for about $4,200.
Is a two-family house in Bloomfield NJ a good first home?
A two-family can be a good first home in Bloomfield if you are ready to manage a tenant. Fannie Mae allows 5 percent down for owner-occupied two-families, NJHMFA assistance can apply, and the second unit can cover about 40 percent of the monthly cost.
Are there properties similar to Liberty Place in Bloomfield, NJ?
Yes. Recent Bloomfield condo and townhouse activity runs from about $280,000 for one-bedroom resales to about $700,000 at the top of the newest two-bedroom listings. A Liberty Place two-bedroom sold for $593,000 in July 2025 with a $490 monthly HOA.
The Bottom Line on Bloomfield NJ Home Prices
Bloomfield NJ home prices give you about half the cost of Montclair, but the real number is the sale price, not the list price, and your tax bill depends on the assessment you inherit. Allison Ziefert Real Estate Group can pull the closed sales and tax history on any Bloomfield house you like, so you know your number before offers are due.
Phone | (917) 751-0448 |
hello@njfromatoz.com | |
Office | 378-380 Millburn Ave, Millburn, NJ 07041 |
Hours | 8 AM to 6 PM weekdays, weekends by appointment |
Sources
Every figure in this article traces to a source below. Price, rent and sales figures carry a period because they move quickly.
Source | Used for |
|---|---|
Median $667,945, +6.9%, $427 per sq ft, 22 days on market, 110% sale-to-list, 82.5% over list, 117 August sales, recent condo and townhouse activity, 19% flood risk | |
Listed $569,000 Jan 2026, sold $752,600 Mar 2026, assessment $370,800, 2025 tax $12,937, comparable sales | |
Montclair median $1,299,140, $612 per sq ft, 121.3% sale-to-list | |
Glen Ridge median $1,343,907, $740 per sq ft, 130.2% sale-to-list, 4% flood risk | |
1.5 months of supply, 476 sales in 12 months, median year built 1932, home size, rent medians, townhouse and unit medians, Oak View listing examples | |
Up to $15,000 DPA in Essex, five-year forgiveness, income limits, Urban Target Area list, two- to four-family eligibility, no appraisal-shortfall use | |
222 closings, $650,000 median, $520K to $800K middle half, 16 days to contract | |
30-year fixed at 7.28% on October 1, 2026, versus 6.34% a year earlier | |
Bloomfield general rate 3.489% and effective rate 2.391% | |
12.1% municipal levy increase, $589 for average assessment of $355,263, school levy +4.97% | |
Brookdale Park acreage, stations, 102 bus, light rail, Holsten's | |
Liberty Place sale price and date, list price, HOA, five-year tax abatement marketing | |
35 multi-family listings and two-family examples | |
5% down on owner-occupied two- to four-unit homes | |
Direct trains from Bloomfield to New York Penn Station and trains to Hoboken |
